RUSSIAS Sakhalin-2 operator, Sakhalin Energy Investment Company, and Japanese gas utility Hiroshima Gas are close to agreement on long-term LNG supply contracts, according to Dow Jones Newswires.
Under a draft agreement - which could be reached within a few months - Hiroshima Gas could buy up to 200,000 tonnes of LNG a year from Sakhalin Energy for 20 years starting from early 2008.
This would be the fifth such long-term contract between Sakhalin Energy and by a Japanese utility to import Siberian LNG.
Sakhalin's proximity to Japan gives it a competive edge over LNG suppliers from Indonesia, Australia and Middle Eastern nations.
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